Capital Square LLC Trims Stake in AT&T Inc. (NYSE:T)

Capital Square LLC trimmed its position in shares of AT&T Inc. (NYSE:T) by 2.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 27,996 shares of the technology company’s stock after selling 603 shares during the period. Capital Square LLC’s holdings in AT&T were worth $616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Davidson Kempner Capital Management LP purchased a new position in AT&T during the second quarter worth approximately $23,888,000. Swiss National Bank raised its stake in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after buying an additional 104,700 shares during the period. Caprock Group LLC grew its stake in AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after acquiring an additional 30,281 shares during the period. Talbot Financial LLC purchased a new stake in AT&T in the 3rd quarter worth $7,438,000. Finally, Mackenzie Financial Corp raised its position in AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock worth $50,486,000 after acquiring an additional 288,093 shares during the period. 57.10% of the stock is currently owned by institutional investors and hedge funds.

AT&T Trading Down 0.1 %

Shares of AT&T stock traded down $0.02 on Monday, reaching $23.16. The company had a trading volume of 4,319,306 shares, compared to its average volume of 35,211,613. The firm’s 50 day moving average price is $22.02 and its two-hundred day moving average price is $19.96. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T Inc. has a 52-week low of $15.94 and a 52-week high of $23.32. The firm has a market cap of $166.18 billion, a PE ratio of 18.85, a PEG ratio of 3.48 and a beta of 0.59.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that AT&T Inc. will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.79%. AT&T’s dividend payout ratio is presently 90.24%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on T. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Oppenheimer boosted their price objective on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Tigress Financial increased their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a report on Friday, September 27th. Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Moffett Nathanson increased their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AT&T currently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.